Sports Direct acquires 2 US retailers in $101m deal

Sports Direct has splashed out $101 million (£78 million) in a takeover deal of US retailers Bob’s Stores and Eastern Mountain Sports.

The retailer, owned and run by billionaire tycoon Mike Ashley, acquired the chains by buying up the debts of their parent firm Eastern Outfitters, which filed for Chapter 11 bankruptcy protection in February.

Sports Direct said the acquisition, which includes around 50 retail stores, will provide it with a “footprint in US bricks-and-mortar retail and a platform from which to grow US online sales”.